Home Insurance Claims 101

We know how stressful repairing your home can be after some storm damage. Not only do you have to think about your home’s safety and integrity, but you also must deal with insurance companies. We work closely with all major insurance companies and work for you to get your home repairs covered by insurance and repaired.

To help anyone experiencing this for the first time, we put together a little Home Insurance Claims 101.

Common Insurance Claims Terminology

Some common insurance terms for general claims are listed below. These are often found on your insurance estimate and claim paperwork as well. Learning this terminology will make the process of repairing your home clearer and give you ease of mind knowing what’s going on.

• ACV (Actual Cost Value) – This is the repair or replacement cost of the damaged part of the property less depreciation and deductible.

• RCV (Replacement Cost Value) – This is the estimated cost to repair or replace damaged property.

• Depreciation – This is the decrease in property value over a period due to wear, tear, condition, and obsolescence. A portion or all of this amount may be eligible for replacement cost benefits.

• Non-recoverable depreciation – This is the depreciation applied to items not eligible for replacement cost benefits.

• Deductible – This is what the insurer will pay for losses, up to the policy limits, more than your applicable deductible.

• General Contractor’s Overhead & Profit (O+P) – This is the general contractor’s charge for coordinating your repairs.

Understanding the Home Insurance Claim Process

Knowing how to file a home insurance claim effectively is crucial for a successful outcome. The process requires a series of steps that ensure your storm damage insurance claim is thoroughly documented and submitted correctly. Here’s a breakdown of what the home insurance claim process typically looks like:

• Contact a local contractor – Hey, that’s us!

• Get an inspection – Once we determine if your damage exceeds your deductible, we can move forward with getting the work performed on your home approved by your insurance company. This step is important, as the damage to your home may not justify filing a claim.

• Sign a contract agreement – Once you are ready to move forward (even without a claim) it is now time to sign the contract. At this point, you will sign a contract with your chosen contractor, agree to the cost of repairs, finalize materials, colors, time frames, and payment terms to ensure a speedy and efficient process.

• File a claim – If we have determined the damage exceeds your deductible, it is time to file a claim with your insurance company. You will then schedule an appointment for your claim adjuster to meet with your contractor.

• Prepare your property – After your build is scheduled, you just need to wait for the day to come. Your salesperson will provide a pre-build letter ahead of time noting some quick preparations you should do before we start building. For example, taking photos down and trimming your yard for crew cleanup ease.

• Send final invoice and/or certificate of completion – We work with your insurance company until the end, so we will submit a final invoice to your insurance carrier after the job is complete. They will then release a check made out to you which is used to pay out your contractor invoices. Some companies may require Certificates of Completion filled out by the homeowner.

Common Mistakes to Avoid When Filing a Home Insurance Claim

Storm damage insurance claims are often denied or delayed due to simple mistakes that can easily be avoided. To help you navigate the process with confidence, here are some common pitfalls and how to sidestep them:

• Failing to report damage promptly – Most insurers have a deadline for reporting damage. Waiting too long could impact your claim.

• Incomplete documentation – Missing documents or unclear photos may result in delays or insufficient coverage.

• Attempting DIY repairs – It’s best to avoid making significant repairs before the adjuster arrives, as this could complicate the assessment process.

• Not reading the policy carefully – Understanding your policy can prevent surprises. Review coverage limits, exclusions, and deductibles.

• Accepting the first settlement offer – If the settlement doesn’t cover your needs, don’t hesitate to negotiate or seek guidance from your contractor.

Frequently Asked Questions

Filing a home insurance claim can come with many questions. Below are some frequently asked questions to provide clarity as you move forward.

How long does the insurance claim process take?

This can vary depending on your insurance company and the extent of the damage, but we’ll work with your provider to ensure the process moves quickly.

What should I do if I suspect storm damage?

Start by visually inspecting your property. Look for missing shingles, damaged siding, or broken windows. If there’s noticeable damage, document it and reach out to a professional to help assess the extent.

How can I make the insurance process easier?

Having detailed records, clear photos, and a trusted contractor present during the adjuster’s visit can make the insurance process smoother.

What if my claim is denied?

If your claim is denied, you can ask your insurer for a detailed explanation and, in many cases, appeal the decision. A reputable contractor can help provide additional evidence if necessary.

Can I file a claim for minor roof damage?

Yes, you can file for roof damage insurance claims even if the damage seems minor. However, some insurers may have minimum claim amounts, so it’s essential to review your policy.

Will filing a claim increase my premiums?

It depends on your insurer and claim history. Some policies allow for occasional claims without significant premium increases, while others may adjust rates based on claims frequency.

Reach Out to Our Team for Support

Managing insurance claims for storm damage can be challenging, but All Storm Solutions, Inc., can help. We understand the nuances of the home insurance claim process and can guide you from the initial inspection to final repairs. If you have questions about how to file a home insurance claim or need assistance with roof repair or replacement after storm damage, contact All Storm Solutions, Inc., today. Let us help you restore your home with confidence.